SoFi Technologies (NASDAQ:SOFI) Shares Down 3.8% on Insider Selling

SoFi Technologies, Inc. (NASDAQ:SOFI - Get Free Report)'s stock price was down 3.8% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $14.09 and last traded at $14.33. Approximately 22,355,840 shares changed hands during mid-day trading, a decline of 55% from the average daily volume of 49,571,358 shares. The stock had previously closed at $14.90.

Specifically, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction dated Tuesday, June 10th. The stock was sold at an average price of $14.39, for a total transaction of $1,253,944.60. Following the completion of the sale, the director now owns 289,258 shares in the company, valued at approximately $4,162,422.62. This trade represents a 23.15% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Magdalena Yesil sold 87,140 shares of SoFi Technologies stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $13.95, for a total value of $1,215,603.00. Following the sale, the director now owns 376,398 shares of the company's stock, valued at approximately $5,250,752.10. This trade represents a 18.80% decrease in their position. The disclosure for this sale can be found here.

Analyst Upgrades and Downgrades

A number of analysts have recently issued reports on SOFI shares. Needham & Company LLC reiterated a "buy" rating and set a $20.00 price target on shares of SoFi Technologies in a research report on Wednesday, April 30th. Dbs Bank upgraded SoFi Technologies to a "strong-buy" rating in a research report on Friday, February 21st. UBS Group boosted their price objective on SoFi Technologies from $14.00 to $15.50 and gave the company a "neutral" rating in a research report on Wednesday, April 30th. Barclays increased their price target on shares of SoFi Technologies from $11.00 to $12.00 and gave the stock an "equal weight" rating in a research note on Wednesday, April 30th. Finally, Stephens started coverage on shares of SoFi Technologies in a research report on Thursday. They issued an "overweight" rating and a $20.00 target price on the stock. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $14.73.

SoFi Technologies Stock Performance

The company has a quick ratio of 0.18, a current ratio of 0.49 and a debt-to-equity ratio of 0.52. The stock has a market capitalization of $15.57 billion, a P/E ratio of 38.08, a P/E/G ratio of 2.24 and a beta of 1.82. The business has a fifty day moving average price of $12.79 and a 200-day moving average price of $13.99.

SoFi Technologies (NASDAQ:SOFI - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported $0.06 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.03 by $0.03. SoFi Technologies had a net margin of 18.64% and a return on equity of 3.82%. The firm had revenue of $763.81 million for the quarter, compared to the consensus estimate of $739.93 million. During the same quarter last year, the firm posted $0.02 EPS. The business's quarterly revenue was up 32.7% compared to the same quarter last year. On average, sell-side analysts expect that SoFi Technologies, Inc. will post 0.26 EPS for the current year.

Institutional Investors Weigh In On SoFi Technologies

Large investors have recently added to or reduced their stakes in the stock. Skandinaviska Enskilda Banken AB publ bought a new stake in SoFi Technologies in the 4th quarter worth approximately $27,000. Hollencrest Capital Management bought a new stake in SoFi Technologies in the 4th quarter worth approximately $31,000. Mpwm Advisory Solutions LLC bought a new stake in SoFi Technologies in the 4th quarter worth approximately $32,000. Hazlett Burt & Watson Inc. grew its position in SoFi Technologies by 2,200.0% in the 1st quarter. Hazlett Burt & Watson Inc. now owns 2,300 shares of the company's stock worth $27,000 after purchasing an additional 2,200 shares during the period. Finally, Headlands Technologies LLC bought a new stake in SoFi Technologies in the 1st quarter worth approximately $28,000. Institutional investors own 38.43% of the company's stock.

About SoFi Technologies

SoFi Technologies, Inc provides various financial services in the United States, Latin America, and Canada. It operates through three segments: Lending, Technology Platform, and Financial Services. The company offers lending and financial services and products that allows its members to borrow, save, spend, invest, and protect money.